Short Interest in Turning Point Brands, Inc. (NYSE:TPB) Drops By 15.2%

Turning Point Brands, Inc. (NYSE:TPB) saw a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 180,800 shares, a drop of 15.2% from the August 31st total of 213,200 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average daily volume of 125,100 shares, the short-interest ratio is presently 1.4 days.

Analyst Ratings Changes

TPB has been the topic of a number of research analyst reports. StockNews.com lowered Turning Point Brands from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 20th. Benchmark reaffirmed a “buy” rating and issued a $45.00 price target on shares of Turning Point Brands in a research note on Friday, August 2nd. Roth Capital raised Turning Point Brands to a “strong-buy” rating in a research note on Thursday, September 19th. Finally, Roth Mkm initiated coverage on Turning Point Brands in a research report on Thursday, September 19th. They set a “buy” rating and a $50.00 price objective on the stock.

Turning Point Brands Stock Performance

Shares of Turning Point Brands stock opened at $42.29 on Monday. Turning Point Brands has a one year low of $19.67 and a one year high of $43.00. The company has a market cap of $748.96 million, a price-to-earnings ratio of 18.63 and a beta of 0.62. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.17 and a current ratio of 1.80. The business’s 50 day moving average price is $38.97 and its 200 day moving average price is $33.97.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.82 EPS for the quarter. Turning Point Brands had a return on equity of 36.11% and a net margin of 11.36%. The firm had revenue of $108.51 million for the quarter. On average, research analysts predict that Turning Point Brands will post 2.68 EPS for the current year.

Turning Point Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 13th will be given a $0.07 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.28 dividend on an annualized basis and a yield of 0.66%. Turning Point Brands’s dividend payout ratio is currently 12.33%.

Insider Buying and Selling at Turning Point Brands

In other Turning Point Brands news, Director Gregory H.A. Baxter sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $39.42, for a total value of $78,840.00. Following the sale, the director now directly owns 46,544 shares of the company’s stock, valued at $1,834,764.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Turning Point Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC acquired a new stake in shares of Turning Point Brands in the first quarter valued at $48,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Turning Point Brands in the first quarter valued at $64,000. Quest Partners LLC acquired a new stake in shares of Turning Point Brands in the fourth quarter valued at $65,000. SG Americas Securities LLC acquired a new stake in shares of Turning Point Brands in the second quarter valued at $129,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Turning Point Brands in the second quarter valued at $209,000. Hedge funds and other institutional investors own 96.12% of the company’s stock.

Turning Point Brands Company Profile

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker's Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.